FX.co ★ Stephanie Pomboy foresees financial catastrophe in US

A news flow cannot be imagined without articles about the inevitable collapse of the US economy. The recent disastrous prediction was unveiled by economist Stephanie Pomboy.

The expert is sure that the United States will face a gloomy future. A surge in US corporate bankruptcies is the key reason for such a forecast. In the first part of 2023, the number of bankrupt companies surged to 3,000, the highest level since 2010. According to Stephanie Pomboy, this tendency may lead to a financial catastrophe in the near future.

Compared to the same period last year, the number of bankrupt companies jumped by 68%. As the US is the world’s largest economy, all this may lead to devastating consequences that may overshadow the damage from the global financial crisis of 2008. The situation is also aggravated by monetary policy tightening by the Federal Reserve.

Stephanie Pomboy has warned that against the background of the impending deterioration of the situation, the Fed is likely to cut the key rate noticeably to stabilize the financial situation of local companies and households. "The impact on the economy, and then the corporate and household credit situation, will be so severe that they'll take rates down dramatically," the economist added.